Cullumber Company has not yet prepared a statement of cash flows for the 2020 fiscal year. Comparative balance sheets as of December 31, 2019 and 2020, and a statement of income and retained earnings for the year ended December 31, 2020, are presented as follows. CULLUMBER COMPANY STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2020 (\$000 OMITTED) Sales revenue $3,770 Expenses Cost of goods sold $1,210 Salaries and benefits 710 Heat, light, and power 70 Depreciation 70 Property taxes 20 Patentamortization30 Miscellaneous expenses 10 Interest Income before income taxes +1,6202,150 Income taxes 810 Net income 810 Retained earnings-Jan. 1, 2020 1,120310 Stock dividend declared and issued Retained earnings-Dec. 31, 2020 590$530 CULLUMBER COMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31 (\$000 OMITTED) Assets 20202019 Current assets Cash $268$20 U.S. Treasury notes (available-for-sale) Accounts receivable \begin{tabular}{ccc} 780 & & 510 \\ 710 & & 570 \\ \cline { 1 - 1 } \cline { 3 - 3 } \cline { 3 - 4 } & & 1,150 \\ \hline \end{tabular} Long-term assets Land 160 Buildings and equipment 930620 Accumulated depreciation-buildings and equipment (180)(110) Patents (less amortization) 80110 Total long-term assets Total assets \begin{tabular}{ccc} $2,758990 & & $1,840 \\ \hline \end{tabular} Liabilities and Stockholders' Equity Current liabilities Accounts payable $402 Income taxes payable \begin{tabular}{ccc} 36 & 30 \\ 320 & & 320 \\ 35195 & & 650 \\ \hline 948 & & 190 \\ \hline \end{tabular} Stockholders' equity Common stock 1,280 Retained earnings 530 310 Total stockholders' equity Total liabilities and stockholders' equity \begin{tabular}{llc} $2,7581,810 & & $1,8401,000 \\ \hline \hline \end{tabular} Prepare a statement of cash flows using the direct method. Changes in accounts receivable and accounts payable relate to sales and cost of goods sold. (Show amounts in the investing and financing sections that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000). CULLUMBER COMPANY Statement of Cash Flows (\$000 Omitted) $ $ $ 7 ^ ^ $